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Account recievable is a account that records the amount should be received . Accounts receivable are the short-term financial assets of a wholesaler or retailer that arise from sales on credit. This type of credit is often called trade credit. Terms of trade credit usually range from 5 to 60 days, depending on industry practice.
Wiki User
∙ 12y ago
Wiki User
∙ 13y agoAccounts Receivable: It is the money(CLAIM) made to the insurance company by a provider of health care (hospitals, doctors, etc) when the patient has enroled in Health care Insurance.
When company sale products on credit then accounts receivable creates and the accounting entry is.
Accounts Receivable
Sales
Entry to write off accounts receivables
Cash/Bank/Goods
Accounts Receivable
Another Answer:
'Accounts Receivable' is money owed to a business.
Wiki User
∙ 13y agoAccounts receivables are promises from customers to pay for goods or services that have already been rendered
Wiki User
∙ 11y agoon account of credit sales of merchandise or trading and service an ammount is due form purchaser that ammount is known as receiveable
Wiki User
∙ 11y agoMonies that are coming into the practice?
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Are accounts receivables an asset?
Yes, all Account Receivables are counted as Assets.
What do account receivables do?
Receive accounts.
Where does accounts receivables go on an income statement?
Account receivables only appear on Balance Sheet.
How does sales growth affect account receivables?
Growth in sales should always be compared to growth in receivables.
Is account receivables part of the income statement?
yes
Why allowance for receivables isn't recognised in receivables control account?
If you are working on accounting for a business and the allowance for receivables isn't recognized in the receivable control account, it be because a client hasn't paid. It may also be because the accounts have not been reconciled.
How do you account for receivables on the income statement?
Receivables are not part of income statement rather these goes to balance sheet as these are future activities.
Is cash in transit account receivable or cash account?
why do you debit cash account and credit receivables for cash in transit
What needs to happen when a customer pays their account in account receivables?
debit revenue and credit receibables
Where can one learn about factoring account receivables?
A person can read many things about factoring account receivables. One can read up on it at the Wells Fargo website, at Investopedia, RivieraFinance, the business dictionary, and more.
What are some pros of receivables factoring?
There are many advantages when factoring account receivables. Some of these include receiving cash quicker. As well, credit checks are not required by factoring receivables through a financial institution either.
Payments which are due to the company but which have not yet been collected is called what?
Account receivables
